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. the u.s. energy complex could take a hit from hurricane sandy. we'll have an update on that shortly. but first let's take a look at european markets. though we started to open slightly higher today, losses are accumulating. ibex 35 over in spain shedding about 0.4%. we want to know your hurricane stories. you can e-mail our tweet us. joining us now is stewart hitch arrested son, rmg wealth management. good morning. your initial thoughts here as we look at the impact of sandy barreling down on new york. we know a lot of trading is shut down. are people routing trades through london? >> you can try to separate the fundamentals from liquidity. fundamentals won'ten drastically changed in the medium term, but if markets get through calmly and people don't panic, we'll be back at the end of the week. if there is panic, liquidity could dry up and could be a crazy couple of days. >> liquidity issue is actually an important one. we've seen others sort of recommend clients steer clear of markets for a couple of days. what's interesting, that will just exasser balt the issue understandably say
on energy today. weaker prices taking their toll on shell. posting a 15% drop in its third quarter profit following a fall in prices. result below analyst expectations. if x. on mobile expected to report a fall in its profit today. revenues expected to contract by around 9:00. 9%. and from the energy companies to the gas pumps. >> shortage caused by hurricane sandy is causing lines in some cases miles long. joining us for monday is jonathan citron. thanks for calling in. you follow energy markets quite a bit. how long and how likely are the shortages to persist? >> i think we'll see the shortage persist for a short period of time. they're doing all they can to alleviate not only the damage, but it's all about getting the power back on. we need to get the glass to the pumps and the pumps working. so i think it's a matter of days rather than the weeks. the damage is far worse than anything that anyone ever imagined. but i think we'll start to see probably by the end of the weekend, early next week, things to start to pick up very slowly but pick up. and i think the long term implications wi
cliff stock if there ever were one. then chesapeake energy. remember, we talked to the ceo, aubrey mcclenden at the utica shale in ohio? i am a judge of mr. mcclenden. the most confident i heard him in multiple years. why? they have raised enough cash, and it can grow production by almost 20%. the newer conservative chesapeake. i think there will be more deals to announce to come in this quarter. i would be a buyer of kellogg on wednesday, but also of chesapeake on wednesday. i think those trades will work. friday morning, jim beam, beef. and our favorite is biago. and i care more about what beam has to say about the industry growth. beam says there is no slowdown, pick up biago, take some. last, but not least. chevron. this company preannounced numbers that nobody is too crazy, but they are far too often undervalued. if it's down going into the quarter and oil is strong the day before or we get a tight inventory number wednesday, pick up chevron. there might be a deep in the money call option. beyond earnings on friday, oh, boy, here is controversy. october nonfarm payroll report, re
for a second day today. still electronic trading of stock futures and options, energy and metals contracts. the last time the new york stock exchange was closed for more than two days straight because of weather was 1888. three of six key refineries shut down. ports were closed. analys analysts estimate sandy could cause 5 to $6 billion of losses. that would make it the fifth costliest storm in u.s. history. there could be more wind and flood damage than hurricane irene. new york city and especially lower manhattan saw it share monday. joining us on set a charles nenner founder and head of research. thanks very much for stopping by. >> you're welcome. from i just want to ask you off the bat about hurricane sandy if there is a broad impact on the u.s. that you expect. >> i want to mention two things. the crash in '87 started in europe. the crash in 9/11 started before terrorists attacked new york. so i forecast markets. so whatever happened here already is already in the price of all the markets, so it won't have much of an effect. >> the philosophy of market forecasting, nobody ever does t
about gasoline, it seems to have already moved slightly. anything on the energy side? >> i think if you go back to the past oil flash gasoline spikes really from storms, you really need a storm like katrina and something larger scale to really get more of a sustained follow-through over the next coming weeks. if you go back to past moves in gasoline futures, they're very short-lived trades and a lot of them already happen before the actual storm hits in anticipation of it. so it's a tricky trade. >> michael, thanks for that. michael purves joining us this morning. let's remind you where we stand. >> talking about markets and positioning when you have a storm this big and with the people who are affected by it. the dow jones industrial average is trying to add about 70 points at the open. stocks are pointing significantly higher. >> they are up again this morning. the ftse is flat. but we're up about 1.5% for the german and french markets. that's where we stand ahead of the u.s. open and ahead of "squawk box." >> thanks for joining us. see you back here tomorrow. >>> good morning. wall s
Search Results 0 to 4 of about 5